Loan Comparison: 3.09% vs 6.5%
833 Apex, Fort Collins, CO 80525 · 3bd/4ba · $410,000
List Price
$410,000
Assumable Rate
3.09%
Remaining Balance
$265,769
Equity Gap
$144,231
Loan Type
FHAAdjust Your Scenario
$20,500
$20,500$144,231
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.09% (FHA)
Blended Rate: 4.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,462/moAssumable @ 3.09% + gap loan
$2,085/moAssumed loan: $1,133/mo
Gap financing: $951/mo
$377less per month with the assumable
Your Savings on This Property
833 Apex, Fort Collins · 3.09% FHA vs 6.5% conventional
$377
per month
$4,525
per year
$135,751
over 30 years
$135,751
interest saved
How gap financing works: The equity gap ($144,231) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,500, 5% of purchase price) and a second mortgage for the rest ($123,731 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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